REVERSE QE2, SAYS FED’S RICHARD FISHER

AS THE American economy improves, the Federal Reserve should consider reversing its controversial asset purchasing scheme (QE2), senior Fed official Richard Fisher said yesterday. When the time comes to tighten policy, “one could make an argument that the most logical thing to do is to undo what you did last,” he told Bloomberg News. Yesterday Fed dissident Thomas Hoenig also renewed his complaints over QE2.